SINGAPORE —JTC Corporation has awarded Westlite Dormitory (S II) Pte. Ltd., an indirect wholly owned subsidiary of Singapore-listed Centurion Corporation Limited, a tender for the state lease of a land lot at Lok Yang Way in Singapore valued at S$221.70 million. Under the terms of the agreement, the company will undertake the development and operation of a purpose-built worker accommodation facility designed to house up to 5,000 foreign migrant workers holding valid work permits.
Centurion Corporation Limited is a Singapore-based real estate and lodging management company specializing in purpose-built worker accommodation and student accommodation assets across global markets. JTC Corporation is Singapore's lead government agency responsible for planning, promoting, and developing sustainable industrial spaces and infrastructure to support the nation's economic growth.
The site spans 28,441 square metres with a gross plot ratio of 2.5 and includes an allowable commercial gross floor area between 500 and 1,000 square metres. The 30-year state land lease is scheduled to commence in November 2026, with construction completion anticipated in the second quarter of 2028 and full operational readiness slated for the third quarter of 2028. The modern facility will comply with Singapore's New Dormitory Standards, incorporating enhanced design innovations to improve resident living conditions and operational resilience.
This strategic land award expands Centurion's Singapore worker accommodation portfolio by approximately 12 percent, building upon its existing operational baseline of 41,898 beds. Centurion plans to execute the development through a joint venture structure retaining a 90 percent equity stake alongside a strategic partner, subject to final regulatory approvals. Upon stabilization, the asset may be offered to Centurion Accommodation REIT under existing rights of first refusal, reinforcing institutional capital recycling strategies within the regional accommodation infrastructure sector.
